The number of land transactions increased sharply
According to Labor, in the context of the "warming" real estate market, brokers, trading floors and investors have launched many business campaigns early so as not to miss the opportunity to reach a large number of potential customers.
Sharing about this issue, Ms. Nguyen Thi Hoa Dung - Sales Director of VNG Group Joint Stock Company (specializing in real estate business in Hanoi) said that right after the Tet holiday, investors were preparing to Look for plots of land with clear legalities and good locations in areas near industrial parks.
According to Ms. Hoa Dung, from an investment perspective, buying residential land and land with clear legal regulations is currently of interest to customers. If people have 1 - 2 billion VND, they can only buy mini apartments with shared windows, small apartments and few houses that ensure fire safety; If you buy a mid-range apartment currently priced at 50 million VND/m2 or more, you must borrow more from the bank. If income is unstable, chasing future profits and assets are not liquid, it will easily become bad debt. "The safest option is to look for land that people are currently living in and sell part of it, land divided into lots located near industrial zones with clear legalities," Ms. Hoa Dung said.
When the prices of apartments and houses in alleys increase sharply, many investors return to looking for land with clear legalities and good locations to invest. Illustration photo from the internet
According to the latest data from the real estate transaction site, in the first 2 months of 2024, real estate transactions have quickly increased again. Notably, in Hanoi and Ho Chi Minh City, residential land and project land have increased interest more strongly than apartments.
In January 1 alone, the number of land searches in Hanoi increased by 2024%, and project land increased by 110% compared to the same period last year. Meanwhile, the number of searches for apartments in Hanoi increased by 77%; In Ho Chi Minh City, search demand increased from 71 - 71% for land plots and project land and only increased by 73% for apartments.
Mr. Nguyen The Diep - Vice Chairman of Hanoi Real Estate Club said that in the future the trend will be to develop apartments and social housing, but currently social housing is suffering from both policy mechanisms and resources. force, that is the reason people return to the land.
Investor demand for the land segment is still very large, but psychological barriers, risk factors, and profit margins make many people still cautious before making investment decisions. It is expected that from 2025 onwards, the land market will enter a cycle of price increases. Accordingly, buyers need to invest in land in developed economic areas with good infrastructure and have not experienced inflated prices to have the opportunity to make a profit in 2024.
Land prices for Hanoi projects are "inflated"
According to Natural Resources & Environment, while the real estate market is still facing many difficulties, some urban area projects in Hanoi are being given unusually high prices by brokerage offices.
Thanh Ha urban project, after many legal controversies in recent years, the selling price has increased rapidly. The current selling price of shophouse lots facing the boulevard and southwest axis is 140 - 150 million VND/m2. Adjacent lots for sale are about 78 - 80 million VND/m2, an increase of 10 - 15 million VND/m2 compared to 2023. Geleximco urban area project (Hoai Duc), after the infrastructure is connected to the Vinsmart urban area City land prices increased by 50%. Rows of adjacent houses and villas located on the main road cost 250 - 300 million VND/m2; location on street 12 - 17m, price is 120 million VND/m2, double the price compared to the end of 2. Next, Nam Cuong - Duong Noi and Nam Cuong - Do Nghia urban area projects are adjacent to villas being traded. at 2023 - 150 million VND/m200.
Mr. Nguyen Nam Viet (HNLand Real Estate Office - Ha Dong) said that the number of investors looking to buy real estate began to be exciting after Tet. However, due to the scarcity of goods on the market, there are not many sellers, so prices are continuously pushed up. For a long time, the Hanoi market did not have any new projects, so transactions were mainly from old projects. These are all transferred goods or the investor still has some inventory left to continue selling. However, the selling price at this time was determined by investors at a high level, so land plots in some projects increased rapidly.
The positive point of the current Hanoi real estate market is that the city. Hanoi strongly deploys transportation infrastructure. Infrastructure investment projects such as ring roads 3,5 and 4 will expand Hanoi's housing market, directing real estate projects to develop outside the center. Infrastructure will promote people's housing needs to neighboring areas with reasonable prices and larger land funds.
In 2024, the market is expected to receive an additional 12.100 new apartments, with 87% of the market share located in Hoang Mai, Nam Tu Liem, Ha Dong districts, providing about 203.000 apartments from 2024 - 2026. In addition, 2026 , the low-rise segment is estimated to have about 14.000 new units from 37 projects from Dong Anh, Me Linh, Hoai Duc, promising to provide more new low-rise supply to the market.
According to Dr. Nguyen Van Khoi - Chairman of Vietnam Real Estate Association, transportation infrastructure is economically interconnected, connecting regions to serve the economy in general and real estate is a part of the economy so will benefit from transport connections.
Infrastructure plays an important role in the development of real estate. In places that have invested in completed infrastructure, land prices increase is considered inevitable, due to the profitable value from business and services... For example, , the eastern area of Hanoi - where there is a large urban area with modern infrastructure, utilities, and strongly invested traffic, has contributed to pushing up land prices in Long Bien and Gia Lam districts by 2-2 times compared to with 3 years ago. In the near future, the Hanoi real estate market will continue to shift to urban areas located in suburban districts. Areas surrounding the center have favorable conditions for development, infrastructure is invested synchronously and there is still plenty of clean land fund...
Within the next 2-3 years, Hanoi is determined to complete and connect a number of belt roads 3,5, 4 and 4. Real estate projects located in this area will certainly grow. This is an opportunity for large real estate investors and businesses. Currently, many businesses have joined the "race", when the area's infrastructure develops, it will lead to an increase in real estate prices. Along with that, other businesses also "followed suit", pushing areas with beautiful locations around Ring Road 4 to become "hot spots" of real estate in Hanoi and the provinces where projects pass through, attracting According to real estate prices along Belt 4, they increased again. According to experts, it is even possible to establish a new price level in all four sides of Hanoi.
Dao Vu (Th)
